Key Person Protection Insurance
You should regularly review your cover and remember that inflation can reduce the value of the cover. If your premiums stop your cover will come to an end.
Your business depends on the skills, knowledge and experience of you and your employees. If someone who makes a vital contribution to your business, such as a specialist with knowledge that no-one else has, a top salesman or a senior manager, were to become critically ill or die, how would you keep your business going without suffering severe financial losses?
In the short term you might suffer a drop in sales which could affect your profits. If a key person suffered a critical illness such as a heart attack, cancer or stroke, they might need a long period of recuperation or may never be able to return to work. Key Person Protection could reduce your financial worries in this situation.
Key Person Protection benefits
- A lump sum payment can benefit your business in the event of the death or critical illness during the cover term of a key person.
- Financial support that could help with the cost of recruiting a replacement or reorganising your business.
- Cover a profit shortfall if sales are affected by an unexpected event.
- Allows the repayment of a business loan or business debt.
Is it for me?
If you have key people in your business whose loss could affect your profits, or if you are a sole trader, you may want to consider this protection.
Our Key Person Protection allows a business to protect itself against the financial loss it may suffer from losing a key person due to death, critical illness, or disability.
The Financial Conduct Authority do not regulate employee benefits.
Get in Touch
To chat to one of our experienced advisors about how they can help you don’t hesitate to contact us on 01928 73 55 10, or complete our online enquiry form above and we will be in touch.
Aspire 2011 LLP is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority.
Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited. 30th January 2023
Quilter Financial Services Limited and Quilter Mortgage Planning Limited are entered on the FCA register under reference 440703 and 440718